Class Action Alert: Wolfspeed, Inc. Investors – Securities Fraud Lawsuit Notification

Hey there, investors! We’ve got an important update for you. A class action lawsuit has been filed against Wolfspeed, Inc. (“Wolfspeed”) (NYSE: WOLF) by the law firm of Kessler Topaz Meltzer & Check, LLP. This lawsuit is on behalf of those who bought or acquired Wolfspeed securities between August 16, 2023, and November 6, 2024, which is known as the “Class Period.” If you’re someone who suffered losses with Wolfspeed, you’ll want to pay attention – the lead plaintiff deadline is January 17, 2025.

The complaint alleges that during the Class Period, Wolfspeed’s executives made statements that didn’t quite match up with reality. Specifically, they were too optimistic about the growth of their Mohawk Valley fabrication facility and the demand for their 200mm wafers in the electronic vehicle market. Additionally, it’s reported that Wolfspeed may have exaggerated the demand for their key product and relied too heavily on wins in design, all while the growth of the Mohawk Valley facility was starting to slow down. This was all happening before the company could reach the promised $100 million revenue per quarter with only 20% utilization of the fabrication plant, not to mention the ambitious $2 billion target that was set for the facility.

If you’re a Wolfspeed investor and you want to be involved in the lead plaintiff process, you have until January 17, 2025, to take action. You can find more information on how to get involved by visiting the Kessler Topaz Meltzer & Check, LLP website or reaching out to attorney Jonathan Naji, Esq. through the provided contact information.

Stay informed and take action to protect your investments!